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UAE markets add over $146.20 billion between January and July 2022

 UAE markets add over $146.20 billion between January and July 2022

globalbizmag.com

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Supported by strong gains for listed shares, increasing demand from international investors, in addition to new listings, the UAE stock markets added more than $146.20 billion to its market capital in the first seven months of this year.

The market value of shares increased from $550 billion at the end of last year, to more than $700 billion at the end of July 2022 transactions. While the market value of Abu Dhabi Stock Exchange (ADX) stood at $550 billion, that of Dubai Financial Market (DFM) was put around 152.19 billion.

The market value of the local markets went up due to the gains made by the leading shares, and new listings, including: Abu Dhabi Ports, Dewa, Borouge, GFH, Invictus Investments, TECOM, and Union Coop. It contributed to increasing the depth of the markets, enhancing its investment attractiveness, as well as attracting a new segment of investors.

FTSE ADGM Too Gains

The FTSE Abu Dhabi General Market index rose, during the first seven months of this year, by 13.7%, to close at 9,648.96 points at the end of July, compared to about 8,488.36 points at the end of 2021, and the market succeeded during that period in achieving a historical level that is the highest ever, with It reached 10,171 points last April.

While the DFM rose by 4.4%, or 142.1 points, to close at 3,223.29 points compared with the previous closing of 3,195.91 points at the end of last year. The local markets attracted more than $78.33 billion of liquidity during the first seven months of this year.

As many as 58.5 billion shares were traded, including 37.2 billion shares in the ADX and 21.3 billion shares DFM, which were executed through 2.2 million transactions.

It may be recalled the Arab Monetary Fund said in its quarterly bulletin that ADX achieved the highest rises in terms of market capitalization and trading values at the end of the second quarter of 2022.

Likewise, the market value of DFM increased by about $24.45 billion, to reach $143.57 billion at the end of the second quarter of this year, compared with $119.12 billion in the previous quarter. The DFM also posted a 63% increase in its net profit to $17.26 million in the first half of 2022 compared with $10.58 million during the corresponding period of 2021.


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